According to a report from ChainCatcher, which was published on August 10, 2026, Matthew, the co-founder of OpenGradient, posted a message stating that funds belonging to his market-making (MM) team are currently stuck on the BitMart exchange and cannot be withdrawn. Matthew said he suspects that the reason may be related to the exchange being insolvent. In his post, he also noted that BitMart, one week before it suspended related services, was still asking token holders to lock their assets on the platform. He called that behavior “shocking.” He further expressed his belief that the exchange's earlier campaign to encourage users to lock up tokens was essentially a way to obtain liquidity for the platform. As of the latest information, BitMart has not yet issued any response to these accusations. The incident has raised concerns within the crypto community about the safety of funds held on centralized exchanges, as well as the risks associated with asset custody and liquidity management. Many observers are now paying close attention to how BitMart will handle the situation.
Matthew, co-founder of OpenGradient, said his market-making (MM) team cannot withdraw funds from the BitMart exchange, according to a post cited by ChainCatcher. The suspected cause is that the platform is insolvent.
Matthew told that BitMart, one week before suspending related services, was still asking token holders to lock their assets on the exchange. He described the behavior as "shocking," arguing that the earlier lock-up push was essentially a liquidity grab.
BitMart has not yet responded to the allegations. The incident has prompted renewed concern within the crypto community over fund safety, asset custody, and liquidity management risks on centralized exchanges.
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